A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.

September 07, 2008

Doesn't it make you sick that no corrupt and high-profile housing/mortgage/banking CEO who enriched himself during the bubble has been arrested yet, while the US taxpayer is now on the hook for hundreds of billions in losses?

Bonus Question: WHERE THE F*CK IS THE INDEPENDENT CONGRESSIONAL INVESTIGATION OF THE FANNIE / FREDDIE MELTDOWN AND TAXPAYER BAILOUT? IS IT UP TO US TO FORMALLY DEMAND A SPECIAL PROSECUTOR?

It does, however I'm hoping to see many frog marches under an Obama administration.

Keith

Please don't close down HP quite yet. Your take on the situation is one of the most cutting edge to be found. I found this blog very early and have been a loyal reader since. If there were another blog out there with the same in your face, no holds barred style I would say go ahead an close HP down. There is not. I know this consumes a good deal of your time, but please hang on for a bit longer. At least through 1/21/09 (the day after the next president is inaugurated)

Please

Thanks for all you do Keith. Your contribution to the discourse on this topic is invaluable.

criminals..I think It was a mistake for Barack Obama to say that he may charge the Bush administration with crimes..That is something you say after your elected..I really believe whoever does this has to be very careful for their lives.And that is no joke.Keith is this much more complicated than we could every imagine? Or is the same old republican crap no regulation of anything let things work out on their own. I get the feeling the bad guys are saying enough already I feel kind guilty america wake up don't you see what we have been doing the last eight years..We have not even touch on Blackwater,Haliburton all the war profiteering..Or the money that was stolen from New Orleans...Guys some pretty bad people have gotten away with some evil stuff. If people like republicanss 1% rich are scared about raising taxes on them who is going to foot this bill? THE F'IN MIDDLE CLASS....SO IF A REPUBLICAN IS IN HOUSE EXPECT YOUR TAXES TO RISE RISE RISE.....

It's not surprising at all. Neither party, and by extension neither candidate, has the stones to go after this country's power base. Look what happened to Ron Paul. Nobody wants to decrease the confidence in the system, for that could make things even worse??? It will take a massive collapse of unheard of proportions before there is enough of a populist movement to make such things happen. These are really political decisions, not economic/law enforcement decisions. The USSR didn't go after it's own criminal until after it collapsed, so our "free market capitalists" won't go after our own criminals until our darkest hour. God help us all.

It's not surprising at all. Neither party, and by extension neither candidate, has the stones to go after this country's power base. Look what happened to Ron Paul. Nobody wants to decrease the confidence in the system, for that could make things even worse??? It will take a massive collapse of unheard of proportions before there is enough of a populist movement to make such things happen. These are really political decisions, not economic/law enforcement decisions. The USSR didn't go after it's own criminal until after it collapsed, so our "free market capitalists" won't go after our own criminals until our darkest hour. God help us all.

Ever see the Exorcist? See it again, you'll know what I mean: I'm strapped to the bed and when the priest goes to put his holy cloth or cowl or whatever that thing is around my neck I turn to the side and cover it with bile.

There has been one indictment in Ohio with past president of Randall Mortgage for leaving vital documents for all to see at his past office in Dublin OH. He's being or has been indicted by the AG of Ohio.

You go to jail for simple possession of a plant, marijuana, but steal hundreds of billions from shareholders and taxpayers then go unpunished.

The criminal side of the legal system is just the beginning as well. Half the money companies make these days is either from lobbied subsidies or legal shenanigans forcing competitors out of business, it's completely and totally disgusting.

This is the Age of Conservatism. The brainstem conservatives don't want to see the crooks prosecuted, they want to emulate them. They applaud them, worship them for getting rich in the way that conservatives have been getting rich since the beginning of time. By stealing from others.

But they don't steal like the petty criminal on the street by mugging you or breaking into your car. They do it in a suit through methods that can only be compared to organized crime.

That's what the majority voted for when they elected republicans to run the country for the last 30 years. See, the brainstems reading this know that one needs to follow the republican credo of wealth creation: "Get as much as you can, all that you can, and don't give a second thought to how you do it."

I love that the next generations will get stuck with the tab. I relish the idea of an America with a drastically reduced standard of living. I hope that makes it weak and easier to attack and conquer. Nothing would be better for mankind than to see this shit hole of a country destroyed.

Well, many of your points I agree with, but seeing the entire country go down in flames is not good for anyone.

None of us live in a bubble, the impact of all this reckless greed will impact most of us in some negative way.

If you do have children, I would worry more about their future, since they'll be the ones having to pay for the majority of this horrible debt we've put ourselves in over the past 8-years.

SUFFERING BRAINSTEMS said... This is the Age of Conservatism. The brainstem conservatives don't want to see the crooks prosecuted, they want to emulate them. They applaud them, worship them for getting rich in the way that conservatives have been getting rich since the beginning of time. By stealing from others.

But they don't steal like the petty criminal on the street by mugging you or breaking into your car. They do it in a suit through methods that can only be compared to organized crime.

That's what the majority voted for when they elected republicans to run the country for the last 30 years. See, the brainstems reading this know that one needs to follow the republican credo of wealth creation: "Get as much as you can, all that you can, and don't give a second thought to how you do it."

I love that the next generations will get stuck with the tab. I relish the idea of an America with a drastically reduced standard of living. I hope that makes it weak and easier to attack and conquer. Nothing would be better for mankind than to see this shit hole of a country destroyed.

The election is front and center stage right now. If Obama wins you can expect a cavalcade of frog marching mortgage CEOs on the evening news. If McCain wins everything gets swept under the rug. Those that win get to write the history.

The elecric chair is too humane method of behavior modification. He needs to dress in a TZITZIT and wear a Yarmulke when we drop him off in Mecca to convert Muslims and to celebrate Yom Kippur in front of the Kaaba in Mecca. Oh yes, it would be very interesting indeed.

Ooooooohhhhh I really want to see that little oompa loompa burn. Whoever said that we should seize his assets and everyone like him to pay for the mess they made - You took the words right out of my mouth.

I thought mortgage fraud was illegal and punishable with prison time. In fact, I learned that during my days at Countrywide. I suppose we were all mistaken.

what about the ca. $100 million golden parachutes these miserably failed CEOs will receive?

and yes, they were not reporting results according to generally accepted accounting practices (GAAP)--which makes them total crooks who should be prosecuted. the US taxpayers all seem to be willing to roll over and play dead. double digit hyper-inflation will be their reward.

rigged game said... In the GOP's new plutocratic standard of legalized theft, accountability only applies to those 'unfortunates' who make less than $5 million a year.----------------------------------I couldn't have said it any better myself.